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Newcastle launches 20 year fixed rate mortgage

Newcastle Building Society has launched a mortgage with a fixed rate of 5.49 per cent lasting for 20 years.

The fixed rate will run until November 30 2026 and is available direct from Newcastle branches and call centres.

The minimum loan is £15,000 and the maximum is £250,000. It is available up to 90 per cent loan to value and the completion fee is £499.

Early repayment charges vary from 1 per cent to 6 per cent depending upon how close the mortgage is to the end of its term.

Newcastle Building Society AGM marketing and new media Steve Urwin: “This 20-year fixed rate mortgage is the longest fixed rate product Newcastle offers its customers. It is ideal for people who want to fix their mortgage repayments for a substantial period with the additional peace of mind that they will not be affected by any further changes to the Bank of England base rate.”


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